WEEKLY: China stainless prices rise across most grades

The prices of most stainless steel grades in China posted gains last week, driven by a firmer futures market and renewed cost pressures amid Indonesia's upward revision of its nickel ore benchmark price (HPM), effective April 15.

On April 17, Mysteel assessed the price of 304/2B Hongwang stainless cold-rolled coil (CRC) in East China's Wuxi at Yuan 14,900/tonne ($2,186/t), surging Yuan 400/t week-on-week. The same day, the most-traded stainless steel futures contract on the Shanghai Futures Exchange for June delivery closed the daytime session at Yuan 15,085/t,